\ a 7 “ . - | Pt - 3 2 ae BE) et on! per’ Tax Set cs — ie } <— ee — a ' 3 = = — " iz a x i r - ~~ ~ S _ ; The surprising results of yesterday’s election have teed Ways and Means Republican tax staff is in the process of up comprehensive tax reform asa clear priority for the receiving feedback and building out the tax reform new Republican President and the Republican Congress. Blueprint by drafting detailed statutory language. The A unified Republican government makes the process of publicly expressed goal isto have that effort completed achieving significant tax reform much more manageable by the end of 2016. In October 14 remarks at University next year, in particular because Speaker Ryan during the of Wisconsin-Wadison, House Speaker Ryan said, “| really campaign pledged to move such a plan in the form of so- want to get tax reform running as quickly as possible... called budget reconciliation legislation, which would mean Asked September 29 whether there is opportunity for that only a simple majority of senators would be i gi ; ‘ oe progress on big-ticket itemsin 2017, Senate Majority necessary to pass the plan, rather than the usual 60-vote a _ . Leader McConnell said, “We need to do tax-reform — majority. Alot of the groundwork has been laid through . . , oe comprehensive tax-reform —not piecemeal. proposals and negotiationsover the last three or four years on various key aspects of businesstax reform, but Trump's tax plan differs from the Blueprint in that the Congressional Republican leaders and the new President corporate tax rate would be lower —15%-—with the same will have to decide whether to push forward with rate imposed on pass through entities. The latest legislation that embodies the House Republican Tax statement from the Trump campaign suggests that small Reform Blueprint, or the outlines of atax reform plan that business owners do not retain earnings may face double President-elect Trump championed during the campaign. taxation. One significant d